Extends the residential energy efficient property credit allowable against the alternative minimum tax to the taxable year starting in 2007 (Sec. 104).

Reduces the maximum income tax deduction allowed for domestic production of oil and gas (Sec. 401).

Extends the business research credit through December 31, 2009 (Sec. 221).

Extends tax deductions for college tuition payments through the taxable year ending December 31, 2009 (Sec. 202).

Allows a base credit of $3,000 for plug-in electric motor vehicles, with up to an additional $2,000 for vehicles drawing propulsion energy from a battery of 5 or more kilowatt hours of capacity (Sec. 124).

Encourages bicycle commuting by allowing tax-free reimbursements to cover expenses such as the purchase of a bicycle and maintenance if the bicycle is regularly used to travel between the employee's residence and place of employment (Sec. 126).

Extends the Federal Unemployment Tax Act surtax that employers pay with respect to individuals they employ through 2010 (Sec. 404).

Extends tax credits for solar energy property until January 1, 2017 and credits for fuel cell and microturbine property until December 31, 2016 (Sec. 103).